Find answers to common queries about PMS, AIF, IPO, Thematic investment and other investment processes. This section helps you understand key concepts, requirements, and how Punjibaazar supports informed decision-making with clarity and confidence.
We act as the bridge between you and India's regulated investment products — PMS, AIF, SIF, Mutual Funds, and (for NRIs) GIFT City offerings. Rather than managing money ourselves, we help you identify, compare, and access the right structured products from SEBI/IFSCA-regulated managers, based on your goals and risk profile.
We're a research-first, relationship-led Company — not a call-center model. Every product on our shelf goes through internal due diligence before we recommend it, and you get a dedicated point of contact rather than a rotating service queue.
Punji Baazar Pvt. Ltd. (legal name: Punjibaazar Private Limited) is a registered Private Limited Company in India, GST Registration No. 08AAPCP8526N1ZI. We are registered with AMFI (ARN-336519) for mutual fund distribution and with APMI (APRN07011) for portfolio management distribution.
We currently work with approximately 250 families, with assets under advisory of approximately Rs. 170 crore. Our base is in Faridkot, Punjab, but we serve clients across India and abroad digitally.
We are not directly SEBI-registered — and we want to be upfront about that distinction. Punji Baazar Pvt. Ltd. holds AMFI registration (ARN-336519) for mutual fund distribution and APMI registration (APRN07011) for portfolio management distribution. AMFI and APMI are themselves SEBI-recognized self-regulatory bodies, so our activities operate within the SEBI-regulated framework — but we are a registered distributor/ intermediary, not a SEBI-registered investment manager or adviser in our own right. Any AIF, PMS, or SIF product we help you access is independently SEBI-regulated at the product/fund-manager level, regardless of our own registration category.
PMS (Portfolio Management Service): You own the underlying securities directly in your own demat account; a professional manager runs the strategy.
AIF (Alternative Investment Fund): A pooled vehicle — you own units in the fund, not the individual stocks. Used for private equity, venture capital, structured credit, and more complex strategies.
SIF (Specialized Investment Fund): SEBI's newer category, sitting between mutual funds and AIFs — designed for investors who want more flexibility than a mutual fund but a lower entry point than a traditional AIF.
Category I: Backs early-stage and growth businesses — startups, infrastructure, social impact ventures. Generally carries government-incentivized status.
Category II: Private equity, debt funds, and similar strategies with no specific incentives or leverage.
Category III: Uses more complex, often shorter-horizon trading strategies, including hedge-fund-style approaches.
Yes — certain Category II AIFs are structured specifically around real estate. Ask us which current options on our shelf include real estate exposure.
It depends on the fund. Most use a lead fund manager supported by a co-manager and an analyst team. We'll tell you the specific team structure for any fund before you commit.
AIF: Rs. 1 crore (SEBI-mandated minimum)
PMS: Rs. 50 lakh (SEBI-mandated minimum)
SIF: Rs. 10 lakh (SEBI-mandated minimum)
Mutual Funds: Minimum threshold limit is 500 Rs.
As a general guideline, your overall portfolio should be upward of Rs. 1 crore before PMS/AIF makes structural sense — below that, the concentration in a single strategy can outweigh the benefits.
Reach out via the contact form or WhatsApp. We'll have a conversation about your goals and risk appetite first — only after that do we recommend specific products and handle the account-opening paperwork with you.
Don't pick a product before understanding your own risk appetite. We always start new clients with a risk-profiling conversation rather than leading with a specific fund recommendation.
Yes, for PMS — once transferred in, the fund manager will decide what to retain or sell to align with the strategy's model portfolio. AIFs don't allow this; AIF investments must be made in cash.
Yes. Share your current holdings and we'll give you an honest assessment of how it aligns with your stated goals, independent of whether you invest with us.
We don't charge our clients a separate advisory fee — our compensation comes from the AMC/fund as a standard distribution commission, which is disclosed in every product's offer document.
Fee structures vary by fund, but generally fall into three patterns:
Category I AIFs generally have a fixed tenure and do not permit early redemption. Since these funds are close-ended, investors are expected to remain invested until the maturity of the fund. Any exit options, if available, are subject to the fund’s terms and may involve applicable conditions or charges.
No. PMS, AIF, and SIF investments are all subject to market risk, exactly like mutual funds. We do not make return guarantees or projections — please read each fund's offer document carefully and ask us to walk you through it before investing.
Performance varies significantly by fund manager and strategy — some have meaningfully outperformed over multi-year periods, others have underperformed their benchmark. We'll share the specific, dated track record for any fund you're considering, rather than quoting an industry-wide average.
AIFs are built for a multi-year horizon — exit charges typically apply for up to 3 years. PMS is more flexible, with exit charges typically limited to the first year and no hard lock-in beyond that. As a rule of thumb, don't commit money to either unless you can hold for at least 3–5 years.
This comes down to your risk tolerance and time horizon, not a one-size answer. Small-cap strategies suit investors comfortable with higher volatility over a 7+ year horizon; multi-cap suits a moderate investor wanting the fund manager to shift exposure based on valuations. We'll help you map this to your actual risk profile rather than guess.
This varies a lot by manager — some maintain a low-turnover, buy-and-hold style; others actively trade. Ask us about the specific turnover pattern for any fund you're evaluating, since this affects both tax outcomes and fee impact.
The most reliable lever is asset allocation matched to your actual risk appetite — not chasing the highest-return product. We recommend a periodic portfolio review (at least annually) to keep allocation aligned as your goals or the market shifts.
Typically, the fund's investment committee or a successor manager takes over per the scheme's governance documents. We'll flag any manager transition affecting your holdings as soon as we're informed by the AMC.
Yes, NRIs can invest in PMS and AIF through standard NRI banking channels (NRE/NRO), subject to compliance and KYC formalities. We'll guide you through account opening end-to-end.
GIFT City is India's IFSCA-regulated international finance zone, where you can invest in USD (or other foreign currency) without routing through traditional NRI banking — meaning easier repatriation and no rupee conversion step. It's a separate, additional route, not a replacement for NRE/NRO investing.
It depends entirely on your country of tax residence. India-side exemptions on GIFT City products are real, but if your home country taxes worldwide income.
We are a distributor/access partner for GIFT City-regulated funds — we are not the fund manager and do not hold custody of your money. Your investment sits directly with the IFSCA-regulated fund.
The process is digital end-to-end: identity and address verification (video KYC), funding from your overseas account, and then onboarding into the specific product. We'll walk you through the document checklist before you begin.
Yes — all three are regulated by SEBI at the product and fund-manager level (and GIFT City products by IFSCA), the same regulatory family that oversees mutual funds in India. Punji Baazar itself operates as an AMFI- and APMI-registered distributor — these are SEBI-recognized self-regulatory bodies — rather than being directly SEBI-registered ourselves. The products we help you access are not informal or unregulated; our own registration sits at the distribution layer.
Every product goes through structured screening before we recommend it: track record review (minimum 3-year history where available), fund manager background and team stability checks, risk and concentration analysis, and regulatory verification. We benchmark each option against comparable alternatives — we don't recommend on commission alone.
Yes — PMS gives you ongoing access to view your holdings and statements; AIF/SIF typically provide monthly NAV updates and periodic (often yearly) portfolio disclosures, per the fund's own reporting schedule.
You can raise it directly with our team via support@punjibaazar.com
These are available in our Risk Disclaimer and Terms & Conditions pages, linked in the website footer, and in the individual offer document for each product you're considering.
An Accredited Investor is an individual or entity recognized under the SEBI Accredited Investor Framework as meeting prescribed financial eligibility criteria. Accreditation is granted by a SEBI-recognized Accreditation Agency and is intended for financially sophisticated investors who have the knowledge, experience, and financial capacity to evaluate and bear the risks associated with complex and alternative investments.
In India, individuals generally qualify if they meet the applicable SEBI criteria, such as an annual income of at least ₹2 crore or a net worth of ₹7.5 crore, with a minimum of ₹3.75 crore in liquid assets (subject to prevailing SEBI regulations).
Accredited Investor status provides access to exclusive investment opportunities that are generally not available to retail investors, including select Alternative Investment Funds (AIFs), private market investments, venture capital opportunities, co-investment vehicles, and customized Portfolio Management Services (PMS).
Accredited Investor status offers access to a broader universe of investment opportunities along with several regulatory and commercial advantages. Key benefits include: